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NCC to carry out checks on financial, technical status of Telcos
  • Post by Admin on sunday, March 05, 2015

The Nigerian Communications Commission (NCC), telecoms industry regulator, said it has commenced a thorough check to determine the financial and technical status of all licensed telecommunications operators in the country.

The essence of the periodic check, according to the commission, is to ascertain the financial and technical health status of telecoms operators as well as ensure they are financially and technically fit to apply for loans for network expansion.

The Director, Stakeholders' Management at the NCC, Mr. Sunday Dare disclosed this in Lagos at a recent event organised by the commission. He explained that the move became necessary in order to forestall a recurrence of the 9mobile experience, where the telecom company became indebted to a consortium of 13 banks that loaned it $1.2 billion, and was unable to repay the loan, based on the agreement reached by parties.

Photo Caption: NCC Logo

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